Quid @ www.quid.co.uk

Quid is a 12 month loan lender operating at www.quid.co.uk that looks to have been launched recently in 2012. This brand arises from Think Finance (UK) Ltd who also run the 1 Month Loan lender (now moved to become Sunny). Quid is a generic term making it difficult to determine the popularity of this company in its early days, with most of the searches being conducted as Quid.co.uk. Think Finance look to be following the trend set by Pounds to Pocket with this extended 12 month loan period. You would expect higher cash amounts to be offered by Quid though, but they stick to £100 to £500 for new customers. £1200 was previously noted on their APR example, but they use a new figure now. I assume this is still available to existing customers.

The cost is 29% of the loan balance each month and so in that opening month you would pay £29 interest per £100. They will send the funds for free on the same day and you can clear the balance early at any time. The www.quid.co.uk site is well designed and includes account login and secure SSL. This lender based in Bury St Edmunds is a member of both the BCCA and the CCTA trade associations. Their email address is help@quid.co.uk and phone number is 01284 770 470 with them operating every day of the week. It is always good to see these payday loan and unsecured personal loan fusions. Just be aware that you may have to upload or fax your most recent bank statement.